Invesco SP Correlations

XSHQ Etf

USD 45.64 0.41 0.89%

The current 90-days correlation between Invesco SP SmallCap and Invesco SP SmallCap is 0.09 (i.e., Significant diversification). The correlation of Invesco SP is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Invesco SP Correlation With Market

Average diversification

The correlation between Invesco SP SmallCap and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco SP SmallCap and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Invesco SP SmallCap. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with Invesco Etf

0.95	VB	Vanguard Small Cap	Pair Corr
0.93	IJR	iShares Core SP	Pair Corr
0.93	IWM	iShares Russell 2000	Pair Corr
0.93	VRTIX	Vanguard Russell 2000	Pair Corr
0.93	VTWO	Vanguard Russell 2000	Pair Corr
0.94	FNDA	Schwab Fundamental Small	Pair Corr
0.93	SPSM	SPDR Portfolio SP	Pair Corr
0.95	DFAS	Dimensional Small Cap	Pair Corr
0.93	VIOO	Vanguard SP Small	Pair Corr
0.93	PRFZ	Invesco FTSE RAFI	Pair Corr
0.94	VTI	Vanguard Total Stock Sell-off Trend	Pair Corr
0.93	SPY	SPDR SP 500 Sell-off Trend	Pair Corr
0.93	IVV	iShares Core SP Sell-off Trend	Pair Corr
0.88	VTV	Vanguard Value Index	Pair Corr
0.87	VUG	Vanguard Growth Index Sell-off Trend	Pair Corr
0.95	VO	Vanguard Mid Cap	Pair Corr
0.92	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.9	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.75	HD	Home Depot	Pair Corr
0.92	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.9	CSCO	Cisco Systems	Pair Corr
0.77	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.88	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.75	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.64	CAT	Caterpillar Sell-off Trend	Pair Corr
0.85	DIS	Walt Disney	Pair Corr

Moving against Invesco Etf

0.62	VEA	Vanguard FTSE Developed	Pair Corr
0.53	BND	Vanguard Total Bond	Pair Corr
0.78	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.74	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Related Correlations Analysis

	XSHD	XMHQ	XSMO	SPMO	XRLV
XSHD		0.83	0.69	0.57	0.72	XSHD
XMHQ	0.83		0.86	0.86	0.83	XMHQ
XSMO	0.69	0.86		0.89	0.88	XSMO
SPMO	0.57	0.86	0.89		0.8	SPMO
XRLV	0.72	0.83	0.88	0.8		XRLV
	XSHD	XMHQ	XSMO	SPMO	XRLV

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Invesco SP Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco SP ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Invesco SP's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
XSHD	0.70	(0.02)	(0.03)	0.06	0.78	(0.75)	1.37	(1.48)	5.33
XMHQ	0.78	0.02	0.04	0.11	0.77	(0.81)	1.95	(1.26)	4.95
XSMO	0.94	0.18	0.13	0.69	0.64	(1.13)	2.61	(1.36)	8.65
SPMO	0.66	0.06	0.06	0.16	0.59	(0.74)	1.53	(1.16)	4.83
XRLV	0.44	(0.03)	(0.13)	0.04	0.48	(0.50)	0.87	(0.85)	2.82

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